Risk, Audit and Compliance Solution
Published
Value
Description
The FCA is establishing a contractual mechanism to implement a Risk, Internal Audit and Compliance Solution to the FCA for a period of three years starting from 1 September 2024 with an option to extend by two further periods of 12 months each (maximum term 5 years). Lot 1: The FCA is establishing a contractual mechanism to implement a Risk, Internal Audit and Compliance Solution to the FCA for a period of three years starting from 1 September 2024 with an option to extend by two further periods of 12 months each (maximum term 5 years).<br/>As a fully independent subsidiary of the FCA, the PSR operates to a shared service agreement, but each retains full data segregation. Any proposed solution will be required to maintain this segregation.<br/>The system will support the further embedding of the Risk Management Frameworks that are operated by the FCA and PSR respectively, enabling greater levels of risk maturity across both organisations and ensuring efficient and effective risk-conscious decision making and prioritisation. <br/>Risk Management plays an essential role in helping to deliver on our Strategy and statutory and operational objectives. It does this by helping to ensure we are operating in an effective and efficient risk-based manner in identifying and delivering the timely interventions to appropriately identify, prevent, mitigate, manage, influence and report on actual and potential Risks of Harm. <br/>The current risk system is a commercial off the shelf (COTS), software as a service (SaaS) platform. This has been configured to support, as examples, the FCA’s risk of harm and own risk taxonomies and scoring methodologies, to automate aspects of the FCA’s Risk and Control Self-Assessment (RCSA) process; Risk Event Management process; risk acceptance and various risk and assurance reviews that are conducted by 2LOD. Additionally, it includes a small number of cross-cutting Risks of Harm. <br/>The current Internal Audit (IA) system is used as a workflow tool to manage the activities associated with internal audits, including findings and actions. This is also a COTS SaaS, with a component hosted on desktop.<br/>Both systems are functionally similar platforms and classified as ‘Governance, Risk and Compliance’ software tools. Moving to a single platform for all risk and audit information will support the consolidation of our IT estate.<br/>A unified platform is envisaged to benefit day to day users, providing a clear view of the risks and controls they manage, linking the outcomes of IA reviews to wider risk management activities. In addition, this would provide stakeholders with an improved view of risk exposures and resultant mitigations by connecting the data to enable more effective and efficient decision making.<br/>The system will be required to support the FCA’s roadmap for critical risk management tools and processes and must therefore be able to support existing (and new) capabilities that have not previously been automated, such as Compliance (i.e., policy management and the implementation of a standardised control library) and Key Risk Indicator management. <br/>We anticipate the system will provide access to real time risk and audit data, providing a high degree of flexibility in the ability to analyse and report on that data on an individual and aggregated risk basis to identify and monitor trends over time. For example, linkages across various records and metrics on a one-to-one, one-to-many and/or one-to-all basis.<br/>The system must be implemented with minimal disruption to current processes and business operations. The supplier will demonstrate a robust approach to significant change and issue resolution, working cohesively with the FCA Product Group to support and independently configure the product. Additional information: The contract will have an initial term of 3 years and is envisaged to allow for a further 2 x 12 month extensions
Timeline
Publish date
3 months ago
Close date
2 months ago
Buyer information
Financial Conduct Authority
- Contact:
- Phil Lamacraft
- Email:
- fcaprocurement@fca.org.uk
Explore contracts and tenders relating to Financial Conduct Authority
Go to buyer profileNotice topic
Source
"Find-a-Tender"To save this opportunity, sign up to Stotles for free.
Save in appTender tracking
Access a feed of government opportunities tailored to you, in one view. Receive email alerts and integrate with your CRM to stay up-to-date.
Proactive prospecting
Get ahead of competitors by reaching out to key decision-makers within buying organisations directly.
360° account briefings
Create in-depth briefings on buyer organisations based on their historical & upcoming procurement activity.
Collaboration tools
Streamline sales workflows with team collaboration and communication features, and integrate with your favourite sales tools.
Explore similar tenders and contracts
Browse open tenders, recent contract awards and upcoming contract expiries that match similar CPV codes.
- Openclosing
1771 Provision of Risk Stratification Algorithms Tool For NHS Arden and GEM CSU
NHS Arden and Greater East Midlands Commissioning Support UnitPublished 6 days ago
- Openclosing
1771 Provision of Risk Stratification Algorithms Tool For NHS Arden and GEM CSU
NHS Arden and Greater East Midlands Commissioning Support Unit190,000 GBPPublished 6 days ago
- Closed
UoB - Provision of Vulnerability Management Services
University of Bedfordshire230,000 GBPPublished 2 months ago
- Closed
Crime Screening Software
Police and Crime Commissioner for Dyfed-Powys30,000 GBPPublished 3 months ago
- Closed
Microsoft Enterprise Agreement and Associated Licensing Service
Mid Ulster District Council500,000 GBPPublished 3 months ago
- Closed
Risk and Audit System Replacement Project
Financial Conduct Authority2,250,000 GBPPublished 3 months ago
- Closed
NHS 24 Contact Centre Customer Relationship Management System
NHS 2428,000,000 GBPPublished 4 months ago
Explore other contracts published by Financial Conduct Authority
Explore more open tenders, recent contract awards and upcoming contract expiries published by Financial Conduct Authority.
- Closed
Talent and Resourcing Service Tender
Financial Conduct Authority75,000,000 GBPPublished 2 months ago
- Closed
Risk and Audit System Replacement Project
Financial Conduct Authority2,250,000 GBPPublished 3 months ago
- Closed
CON23-247 Provision of Pension Advice
Financial Conduct Authority416,666 GBPPublished 6 months ago
- Closed
CON23-247 Provision of Pension Advice
Financial Conduct Authority480,000 GBPPublished 6 months ago
- Closed
CON23-247 Provision of Pension Advice
Financial Conduct Authority480,000 GBPPublished 6 months ago
Explore more suppliers to Financial Conduct Authority
Sign upExplore top buyers for public sector contracts
Discover open tenders, contract awards and upcoming contract expiries of thousands of public sector buyers below. Gain insights into their procurement activity, historical purchasing trends and more.
- CPD - Supplies and Services Division
- Hywel Dda University Health Board
- Horse Racing Ireland (HRI)
- UK Export Finance
- Yorkshire Housing
- Post Office Ltd
- Coin Street Community Builders
- The Archer Academy
- St Peter’s Catholic High School
- OFFICE FOR PRODUCT SAFETY AND STANDARDS
- East Northants Council
- Howard Cottage Housing Association
Explore top sources for public sector contracts
Stotles aggregates public sector contract data from every major procurement data source. We ingest this data and surface the most relevant insights for our users. Explore our list of public sector procurement data sources below.